Even a machine may malfunction once in a million times if not more. There are a million things which we use or consume in our everyday lives, and supply chain management weaves through it all, creating a harmonious and efficient environment. No one is infallible. Warehousing. This is one of the most important stages. This list has to be regularly updated to demarcate available stock and required stock. At each stage, timely transportation of goods is mandatory to sustain a smooth business process. In order to be successful, it is essential that a business stays abreast with all the latest information about the various aspects of its production. 1. Suppliers play a very crucial role in supply chain management systems. Any snag should be dealt with immediately and the weak links repaired or removed. Facebook is one of the most profitable businesses in the world, and its entire existence depends on the use of information technology and information systems. Demand and supply are two of the most important aspects of a business. A framework of supply chain management literature. endstream endobj startxref For a highly effective supply chain management system it is essential that an inventory is kept and thoroughly maintained. ’Stages’ here means the number of divisions or graphic elements in the slide. A well-managed logistics system along with flawless invoicing are the two pillars of secure transportation. Issues in Supply Chain Management. The market trends of supply and demand for a particular product can be best understood if the information is properly and timely disseminated through the many levels of the business. Profit is the bottom line and to make sure that the business achieves it, it is essential that the supply chain does not have any gaps. For any business to be successful, trends, with respect to demand and supply, need to be studied carefully while implementing an effective plan of execution. Any break in this chain can actually result in disruption of the system with a domino like effect. European Journal of Purchasing & Supply Management, 7(1), pp.39-48. Planning . Supply chain management is made up of a few components that are very important as well as critical to the system. iQualify UK is a UK registered organisation which was founded to provide the best in education through courses and qualifications for those previously excluded on grounds of finance or the need to work rather than study. Without a proper plan or strategy in place, it will be well-nigh impossible for the business to achieve effective and long term benefits. Tan, K.C., 2001. This is one of the most important stages. Businesses have now started to pay more attention to this component simply because of its impact on the supply chain. Pb*���N �s��"bV��58V���:N �R�6-D|V����A��g�EBD!V� 湊:VZ���OnM����`�h R , sG�D�Gc�DsFGC�EGH��;8�tP ��H�A:�"@�R��������� �#&�R�(���4�l5CG�j� VD �@���\�H�1H�Q���ACy��N�U�9� YZ�����|rH P�/ =��E��g�c�K�47��d�8� 5��Ey;D�@� �M�g Other successful companies such as Google, Amazon, eBay, and Financial Institutions- most of their success is due to technology. We shall discuss each of the components in brief. We began with the description of supply chain management of bread. ��G������S�$�D%+�$�[]�D Among the various components that create a strong supply chain is the facility for the return of faulty/malfunctioning goods, along with a highly responsive consumer grievance redress unit. We have categorized all our content according to the number of ‘Stages’ to make it easier for you to refine the results. Inventory location. order fulfillment and distribution . material handling. Inventory Management. This not only creates a good customer bonding, but also maintains goodwill in the long run. There are many complicated supply chain management processes that differ with the size of the business as well as the complexity of the chain and the number of products involved at each step. It is only possible when all the other components of the supply chain are in tandem with each other. 1215 0 obj <> endobj Lambert, D.M. It ensures the success and reputation of a business. Any business which pays attention to this component, and takes good care of it, will benefit from the production and transportation of its goods on time. The following are the six components of supply chain management. Planning helps to identify the demand and supply trends in the market and this, in turn, helps to create a successful supply chain management system. Pearson UK. A supply chain management system is required not just for the timely manufacture of goods; it is also a very critical system for ensuring that consumer requirements are met effectively. Transportation is vital in terms of carrying raw materials to the manufacturing unit and delivering the final product to the market. The eight components discussed here are interdependent and ensure a smooth supply chain management system. 0 Products and services sold to the end user are created with the help of different sets of raw materials. %%EOF Logistics Management. Address: 11 Selsdon Way, London, E14 9GL, Level 5 Diploma in Business and Enterprise, Level 5 Extend Diploma in Business and Enterprise, CMI Level 7 Award in Strategic Management and Leadership, Chartered Manager Status with Level 7 Diploma in Business Management, Level 7 Diploma in Business Management classroom block Teaching, PRINCE2 Foundation and Practitioner certification, International sustainability and corporate social responsibility (CSR), Managing International Business through co-operative strategies, Level 3 Certificate in Supporting Teaching and Learning in Schools, Level 4 Certificate in Education and Training, Level 3 Diploma in Digital Entrepreneurship, Level 5 Extended Diploma in Business and Enterprise, Level 7 Diploma in Business Management – classroom block teaching, PRINCE2 Foundation and Practitioner Certification, International Sustainability and Corporate Social Responsibility (CSR), Managing International Business Through Co-operative Strategies. Planning is the first and most essential element of supply chain management. Every business needs a plan or blueprint or a roadmap based on which the strategies are made. It is crucial that a company procures good quality resources so it can create good quality products and maintain its reputation in the market. In this instance, bread begins its journey with the farmer who sows the seeds and sells the wheat to the businessman, who in turn sells it to the baker who bakes the bread. Even the best quality control processes may have unavoidable momentary lapses. 1. Pearson Education India. Management of : inbound and outbound transportation. | PowerPoint PPT presentation | free to view Procurement management is all of the processes that go into managing a company’s incoming material needs for manufacturing. Supply Chain Management found in: Supply Chain Management PowerPoint Presentation Complete Deck With Slides, Supply Chain Management Process Execute Ppt Powerpoint Presentation Show Introduction, Corporate Supply Chain Management.. 1234 0 obj <>stream With logistics management in business the focus is twofold: inbound logistics for internal functions and outbound logistics for the external flow from the point of origin to the point of consumption. endstream endobj 1216 0 obj <>/Metadata 155 0 R/OCProperties<>/Outlines 171 0 R/PageLabels 1204 0 R/PageLayout/OneColumn/Pages 1206 0 R/PieceInfo<>>>/StructTreeRoot 188 0 R/Type/Catalog>> endobj 1217 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/Rotate 0/StructParents 0/Type/Page>> endobj 1218 0 obj <>stream Distance Education PGD in Logistics and Supply Chain Management - PGD in Logistics and Supply Chain Management prepares the students to turn out to be proficient on the issues and measurements of the network chain administration so they can make significant choices for the association with no issue. For example, if you want a 4 piece puzzle slide, you can search for the word ‘puzzles’ and then select 4 ‘Stages’ here. We therefore offer quality products at an affordable price. Inventory management is critical to the function of supply chain management, because without proper inventory management the production, as well as sale of the product, is not possible. We shall discuss each of the components in brief. The world today is dominated by a continuous flow of information. & Cooper, M.C., 2000. Industrial Marketing Management, 29(1), pp.65-83. It is therefore necessary that suitable quality raw materials are procured at cost effective rates. In the case of such lapses, inevitably followed by consumer complaints, a business must, instinctively, recall the product/s and issue an apology. If a supplier is unable to supply on time, and within the stipulated budget, the business is bound to suffer losses and gain a negative reputation. In South Africa every effort should be made however to utilise labour, even though intensive and expensive training schemes may be needed to make this labour more effective. third party logistics. 1223 0 obj <>/Filter/FlateDecode/ID[]/Index[1215 20]/Info 1214 0 R/Length 58/Prev 239569/Root 1216 0 R/Size 1235/Type/XRef/W[1 2 1]>>stream Logistics & Supply Chain Management. Only after the finalisation of the plans and consideration of all pros and cons, can one proceed further. Thus, supply chain management begins at the origin of the product or service, and ends at the delivery and consumption of the same by the end user. This necessitates a strong role for suppliers in the supply chain management system. A business must focus on all these components in order to create a flawless supply chain. Before the beginning of the entire supply chain, it is essential to finalise the strategies and put them into place. Related: 3 Free Tools for Making … A business cannot survive if it has to share an already scarce raw material with the community. logistics management is usually accompanied by the investment of large capital amounts in mechanisation, often to reduce labour requirements. 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